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Ardea Biosciences Reports Recent Accomplishments; Provides 2010 Outlook; Announces Fourth Quarter and Full-Year 2009 Financial Results and 2010 Financial Guidance
Date:3/12/2010

5.1 million, or $0.82 per share and $3.79 per share, respectively. The net loss applicable to common stockholders for the three and twelve months ended December 31, 2009 included non-cash charges of $1.4 million and $5.8 million, or $0.08 per share and $0.32 per share, respectively, for stock-based compensation expense. For the same period in 2008, we reported non-cash charges of $1.4 million and $5.1 million, or $0.09 per share and $0.35 per share, respectively, for stock-based compensation expense.  

The decrease in net loss applicable to common stockholders between these periods was primarily a result of the increase in revenues noted above for the same period and a decrease in operating expenses, mainly due to reduced discovery research and clinical development expenditures as we continue to focus our resources on our gout-related programs, RDEA594 and RDEA684. In addition, during the second half of 2009, we realized savings from our restructuring plan of approximately $2.2 million. These decreases were partially offset by severance-related restructuring charges of approximately $0.8 million for the twelve months ended December 31, 2009, an increase in interest expense in connection with our growth capital loan and capital lease obligations entered into in the second half of 2008 and a decline in 2009 interest income due to lower
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1. Ardea Biosciences, Inc. Announces Completion of Phase 1 Clinical Trials of Novel Investigational HIV Drug RDEA806
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3. Ardea Biosciences Lead MEK Inhibitor, RDEA119, to Enter Human Clinical Trials in Advanced Cancer Patients
4. Ardea Biosciences, Inc. Announces New Clinical Development Program Directed Toward the Treatment of Gout
5. Ardea Biosciences Presents Preclinical Data Demonstrating Favorable Resistance Profiles for Non-Nucleoside Reverse Transcriptase Inhibitors for the Treatment of Human Immunodeficiency Virus
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10. Ardea Biosciences Presents Preclinical Data on RDEA119 Demonstrating Favorable Anti-Inflammatory Profile for Potential Use in Ulcerative Colitis
11. Ardea Announces Progress with HIV Non-Nucleoside Reverse Transcriptase Inhibitor Program
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